Which of the Following Is Not a Feature of a Life

question 48

Multiple Choice

Which of the following is not a feature of a life estate?

• A)Ownership held for a lifetime.
• B)The owner of the life estate can sell the property but cannot bequeath it in their will.
• C)Ownership in the 'remainder' passes after a particular life has ended.
• D)The owner of the life estate is entitled to rent and income from the property during their lifetime.

---

Definitions:

Prior Period

A term referring to the financial events or conditions from a previous accounting period.

Cash Dividend

A cash dividend is a payment made by a company out of its earnings to shareholders, usually in the form of cash.

Stock Dividend

A dividend payment made to shareholders in the form of additional company shares rather than cash.

Retained Earnings

Profits that a company has earned to date, less any dividends or other distributions paid to shareholders, often reinvested in the business.